- The EUR / JPY set new highs for the current year around 131.70.
- Higher up it points to the 2018 high near 132.00.
EUR / JPY extends post-breakout rally above April consolidation and hits new 2021 highs at 131.65 / 70 band on Wednesday.
The cross manages to outrun the recent range consolidation issue and surpasses the 131.00 mark with some conviction. That said, the next target to highlight is now at the 2018 high of 131.98.
Meanwhile, if it continues above the five-month support line near 129.10, more gains are still likely in the near term.
Looking at the bigger picture, the bullish position against the EUR / JPY is seen unchanged while it is above the 200-day SMA, today at 126.18.
EUR / JPY day chart
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